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Resolution to Request Hernando County Property Appraiser to Not Exempt Certain Rental Properties From Ad Valorem Taxes if Such Properties Meet Criteria for Live Local Act Property Tax Exemption
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BRIEF OVERVIEW
Hernando County renews its concerns with Section 196.178(3), Florida Statues (the Live Local Act Property Tax Exemption), which requires the Hernando County Property Appraiser to exempt certain rental properties from ad valorem taxes if such properties meet the criteria of the Live Local Act Property Tax Exemption known as the Multifamily Middle Marker (MMM) Property Tax Exemption.
Hernando County meets the opt-out requirements of HB 1389 as illustrated in the 2023, 2024, and 2025 Shimberg Center for Housing Studies Annual Report showing that the number of affordable and available housing units is greater than the number of renter households for those persons who meet the income criteria for the 80-120% property tax exemption for three consecutive tax years.
The resolution confirms Hernando County’s choice to not exempt eligible properties and asks the Hernando County Property Appraiser to not grant such exemptions. It would be in effect from January 1, 2027 to December 31, 2027, for the 2026 tax roll and may be renewed prior to 2028.
STRATEGIC PLAN INITIATIVES
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FINANCIAL IMPACT
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LEGAL NOTE
The Board has authority to act on this matter pursuant to Section 196.1978(3)(o) and Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairperson’s signature on the attached resolution to not exempt certain rental properties from ad valorem taxes if such properties meet criteria for the live local act property tax exemption.